Beware The Extra Fees

When the time comes to enter home loan territory, proceed with caution. Extra fees could be lurking around almost any corner!

In your excitement to get into your brand new home, you may miss some of the important details of your mortgage contract.

Upon signing, you will be expected to pay a variety of transaction fees, including - but not limited to - stamp duty, set-up fees, and Lenders Mortgage Insurance fees.

The list could go on and on and although you may not be able to avoid these nagging charges, you can definitely prepare for them.

Home loan associated fees only get the best of you if you are taken by surprise, so do what you can to prepare yourself.

Organise a chat with your lender or mortgage broker to determine exactly what fees you will have to pay and when so that you can set up a budget.

Putting enough money away to cover all of these costs will make for a much more pleasant new homecoming experience and will put you on the right foot towards staying on top of your finances.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.